Exprodat’s recipe for rapid SPEE Monograph 3 shale reporting

Exprodat’s Unconventionals Analyst speeds shale reserves reporting to SEC.

Exprodat blogger Chris Jepps has authored a guide to ‘one hour Monograph 3’ reserves reporting. The title refers to the Society of Petroleum Evaluation Engineers’ (SPEE) guidelines to reserves estimation in resource plays such as shale. Monograph 3 is the bible for SEC reporting but it can be ‘complex and time consuming’ without the right tools. So what are the right tools? For Exprodat they are GIS of the ESRI variety along with its own ‘Unconventionals Analyst’ extension to ArcGIS for Desktop.

Jepps shows how ten iterations of the M3 workflow can be achieved in under an hour. The technique is applicable to mature resource plays as it requires existing well and production data. A random selection of a set of ‘anchor wells,’ is used to calibrate the model. Statistics from test wells are compared for consistency. The approach involves concentric buffer zones and polygons defined by well locations—both decidedly GIS-type activities. SPEE Monograph 3 is a snip at $70 from the SPEE webstore.

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